Acme United (NYSE:ACU) Upgraded at StockNews.com

StockNews.com upgraded shares of Acme United (NYSE:ACU) from a hold rating to a buy rating in a report issued on Saturday.

Acme United Price Performance

Shares of NYSE ACU opened at $39.61 on Friday. Acme United has a 52 week low of $32.85 and a 52 week high of $50.00. The company has a quick ratio of 1.91, a current ratio of 4.41 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $148.70 million, a price-to-earnings ratio of 8.10 and a beta of 0.70. The firm has a 50-day simple moving average of $37.98 and a 200-day simple moving average of $39.80.

Acme United Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Wednesday, March 26th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, March 26th. Acme United’s payout ratio is 24.69%.

Hedge Funds Weigh In On Acme United

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mink Brook Asset Management LLC purchased a new position in Acme United in the fourth quarter valued at $9,766,000. Millennium Management LLC acquired a new stake in Acme United during the 4th quarter worth $321,000. Citadel Advisors LLC increased its position in shares of Acme United by 33.8% during the fourth quarter. Citadel Advisors LLC now owns 23,743 shares of the company’s stock worth $886,000 after purchasing an additional 5,999 shares in the last quarter. 683 Capital Management LLC acquired a new position in Acme United during the fourth quarter worth approximately $310,000. Finally, Jane Street Group LLC purchased a new stake in Acme United in the 4th quarter valued at $228,000. 62.10% of the stock is currently owned by hedge funds and other institutional investors.

Acme United Company Profile

Acme United Corporation supplies cutting, measuring, first aid, and sharpening products to the school, home, office, hardware, sporting goods, and industrial markets in the United States, Canada, Europe, and internationally. The company offers scissors, shears, knives, rulers, pencil sharpeners, paper trimmers, safety cutters, lettering products, glue guns, and other craft products under the Westcott brand name; and cutting tools under the Clauss brand.